Good question because if HRR is unable to convert the CN holders are sucking 15% compounding interest out of the company up until maturity. The 4 Oct ann $91m funding package for woodlawn says at page - "The notes have a maturity date of 31 Dec 2024 with conversion permitted at any time upto maturity at conversion price of 25c....". It does not specifically say if both HRR and noteholders can convert at any time but that is my understanding of what it means. The entitlement prospectus released 4 Oct sets out at page 52 the terms & conditions of the CN but is silent about HRR ability to redeem or convert the CN, a magor oversight.
HRR Price at posting:
12.0¢ Sentiment: Hold Disclosure: Held
